RUSSIA

The Russian government is tightening its grip on cryptocurrency mining with sweeping new regulations aimed at curbing illegal activity, reducing energy strain, and boosting control.

Following a cabinet meeting led by Deputy Prime Minister Alexander Novak, the Ministry of Energy has been tasked with finalizing a framework that targets unauthorized mining operations and unregistered consumption.

Key Measures Being Introduced:
• Remote Power Disconnection: Authorities will gain the ability to remotely cut off mining farms during peak electricity demand or energy shortages.
• Harsher Penalties: Violators of mining bans, illegal grid connections, and electricity theft will face increased legal and financial consequences.
• Low-Priority Power Status: Miners will be classified in a new “fourth-tier consumer” category, meaning reduced supply reliability.
• Redistribution of Power: Energy saved from curbing mining will be rerouted to socially critical infrastructure like hospitals and schools.

President Vladimir Putin acknowledged the unintended consequences of mining growth at a recent economic forum:

“We had surpluses in some regions… then they began mining. We had to act.”

Additional Proposals Underway:
• Mandatory Registration: Mining equipment imports may soon require labeling and certification, with plans for a national device register.
• Tax Surveillance: The Federal Tax Service, Energy Ministry, and Ministry of Digital Development are collaborating to identify miners based on electricity usage.
• Partial Bans Already Active: Over a dozen regions — including parts of Siberia, North Caucasus, and occupied Ukraine — are under partial or full mining bans, some extended to six-year prohibitions.

Although cryptocurrency mining was legalized in 2024, fewer than one-third of commercial miners have registered with the tax authorities. While amateur miners under 6,000 kWh/month are currently exempt, enforcement is increasing.

In June, Rosseti, Russia’s main grid operator, announced a partnership with telecom companies to track illegal mining using internet traffic data.

Outlook:

Russia’s evolving stance reflects a global trend toward tighter regulation of crypto mining, especially in energy-stressed economies. The new framework is expected to be finalized and begin rollout by the end of Q3 2025.

The European Union has approved its 18th sanctions package against Russia — and this time, the measures are groundbreaking. At the heart of the new package is a flexible oil price cap targeting one of the Kremlin’s last stable revenue streams, while aiming to avoid global energy market disruption.

🔹 New oil price cap: The previous fixed limit of $60 per barrel will now be replaced by a floating cap — roughly $15 below global market prices. This means the cap could start around $45–50 and will be automatically adjusted at least twice a year. The goal is to maintain sustained pressure on Moscow without triggering an energy crisis.

🔹 Strike on Rosneft: For the first time, the EU has targeted Russian-linked infrastructure outside its borders, namely Rosneft’s largest refinery in India. This marks a new level of international enforcement and aims to curb sanction evasion efforts.

🔹 Blacklist of tankers and export goods: Dozens of tankers from Russia’s “shadow fleet” — used to covertly bypass sanctions — have been added to the blacklist. Sanctions also extend to traders and entities linked to this network. The EU is expanding its list of banned exports to include any dual-use goods tied to weapons manufacturing.

🔹 Banking sector under fire: The EU is considering removing over 20 Russian banks from the SWIFT payment system. This could severely limit Russia’s ability to move funds globally and finance foreign operations — potentially one of the harshest economic measures yet.

🔹 $2.8 billion trade block: The new package proposes export bans worth up to $2.8 billion, aimed at restricting Russia’s access to advanced technologies, components, chips, and other vital industrial equipment.

Political resistance and Slovak veto
Approval of the package was delayed due to a veto from Slovakia, which demanded energy exemptions. Slovak Prime Minister Robert Fico eventually agreed after receiving written assurances from the European Commission regarding the protection of his country's energy interests.

What will the G7 do?
While the EU leads the charge, all eyes are now on the G7 nations, which originally helped craft the initial price cap deal in December 2022. Canada — currently holding the G7 presidency — has yet to confirm whether it will support the new dynamic pricing model. If G7 partners follow suit, it will become increasingly difficult for Russia to bypass the price ceiling.

#Eu , #russia , #Sanctions , #oil , #Geopolitics

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‼ ️ The EU has just approved one of the strictest sanctions against Russia - Kaya Kallas
According to the head of European diplomacy, 105 ships of the Russian “shadow fleet” fell under restrictions. Sanctions also limit Russian banks' access to financing.
"Seververoye Stream" gas pipelines will be banned. The lower oil price limit. We are putting greater pressure on the Russian military industry, Chinese banks, which allow you to circumvent sanctions and block the export of technology used in drones, ”Kaya Kallas wrote in KH.
The restrictions will also affect the Rosneft Oil refinery in India.
Time, Reuters, citing diplomats, reports that the 18th package of sanctions will reduce the maximum oil price to $ 47.6 per barrel.
❗upd:🇪🇪 The Estonian Foreign Minister confirmed that the 18th package of sanctions includes a reduction in oil prices to $ 47.6 per barrel. The restrictions also apply to banks, more than 100 ships and the construction of the Nord Stream.
“Our message is clear: aggression has a price, and it will continue to grow,” he wrote in KH

#Russia

📅 July 17, 2025 | Moscow, Russia
The Russian government has just officially confirmed that the digital ruble—its centralized, programmable version of money—will be rolled out nationwide in 2026. The announcement, published today by The Block, makes it clear that the Central Bank of Russia (CBR) wants to get ahead of China and the European Union in the race for central bank digital currencies (CBDCs). But there is one problem Moscow cannot ignore: the majority of the population remains deeply skeptical and fears that the digital ruble will be a new tool of state surveillance.
From Pilot to Mass Deployment: Moscow's Plan
According to the CBR, the plan is to move from the limited-user pilot that has been in the testing phase since 2023 to mass implementation, enabling everyday payments, instant transfers, subsidies, and even basic smart contracts directly controlled by the state. By 2026, the goal is for the digital ruble to coexist with cash and traditional banking systems, but with clear incentives to gradually displace paper money.
The official narrative is compelling: the digital currency will reduce transaction costs, eliminate fraud, and accelerate government payments such as pensions, aid, and subsidies. For some sectors, especially large companies and banks allied with the Kremlin, the promise of efficiency and traceability is music to their ears.
But for the average citizen, the story is very different.
Distrust, Control, and Fear: Why Russians Don't Trust
According to internal surveys leaked to The Block, more than 60% of respondents believe the digital ruble will give the government full access to their financial transactions, raising fears of absolute control in a country already notorious for state surveillance.
Many citizens fear that the Russian CBDC could be used to:
* Freeze funds of political opponents.
* Block international payments in the event of sanctions.
* Monitor personal spending, from travel to everyday purchases.
This distrust is not unfounded: Russia has tightened its internet control and data surveillance laws over the past 10 years, fueling the perception that the digital version of the ruble will be just another Big Brother eye.
In response, the CBR has promised "robust privacy mechanisms," but without detailing exactly how they will work or who will audit the system. Experts warn that, although a system could technically be designed to preserve a certain degree of anonymity, the current architecture is designed to maximize traceability, not protect privacy.
Topic opinion:
The Russian CBDC is the clearest example of the paradox of state digitalization: more efficiency, less freedom. Governments argue that programmable money is progress... but without clear limits, it easily becomes a tool to block, track, or restrict access to your own funds.
The digital ruble will arrive. The question is whether Russia will use it to modernize its economy or to strengthen its apparatus of social control. Without external oversight, independent auditing, and real legal guarantees, the dream of state digital money could turn into an Orwellian nightmare.
💬Would you accept using a state digital currency or would you prefer to stick with cash or decentralized crypto?
Leave your comment...
#russia #DigitalRuble #CBDC #blockchain #CryptoNews